Yahoo to cut workforce by 10 per cent

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  • jaibin
    Junior Member
    • Oct 2008
    • 9

    Yahoo to cut workforce by 10 per cent

    Yahoo decided to cut at least 1500 employees from their work due to crisis in economy. Their net profit for the third-quarter of the year was US$54 million, or four cents per share, down from US$151 million and 11 cents per share during the same period of 2007. Economic slowdown has hurt the firm particularly hard as advertisers cut back on spending. Yahoo has been losing ground on the internet to companies such as Google, MySpace and Facebook.
    Last edited by jaibin; 10-24-2008, 11:34 AM.
    Jaibin
  • trinitybrown
    Junior Member
    • Oct 2008
    • 8

    #2
    Yes I agree with you, inflation in worldwide economy has adverse effects on the established and rich countries which results in this form, hope the problem will be solved soon

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    • regmac
      Junior Member
      • Jan 2009
      • 14

      #3
      This is a very horrible reality on the side of yahoo. How could they produce more if they loss some? Am I right to say then that yahoo is going down and we'll be out in the next few years? Hope they're not.

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      • zenodoo
        Senior Member
        • Dec 2009
        • 153

        #4
        Originally posted by jaibin
        Yahoo decided to cut at least 1500 employees from their work due to crisis in economy. Their net profit for the third-quarter of the year was US$54 million, or four cents per share, down from US$151 million and 11 cents per share during the same period of 2007. Economic slowdown has hurt the firm particularly hard as advertisers cut back on spending. Yahoo has been losing ground on the internet to companies such as Google, MySpace and Facebook.
        Anything related to businesses are affected when economy slows down and yahoo is not an exemption. So sad to hear this.

        Comment

        • ezekiel17
          Member
          • Jan 2010
          • 47

          #5
          thats true.! internet connection goes up, so as the prices of some Yahoo services..

          Comment

          • financialinsurance
            Junior Member
            • Jan 2010
            • 11

            #6
            Many corporate companies do the same thing when they find that their company is not getting any profit.

            Comment

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